Confiscation of Forged DEPB Licenses and TRAs Upheld; Duty and Penalties Imposed Under Customs Act.

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....The appeals relate to confiscation of Duty Entitlement Pass Book (DEPB) licenses and Telegraphic Release Advices (TRAs), and demands of customs duty u/s 28(1) of the Customs Act, 1962, along with penalties u/ss 112(a) and 114(A). The CESTAT dismissed appeals by importers and traders, holding that the TRAs and DEPBs were forged and fabricated instruments. The High Court affirmed that there can be no credit derived from forged scrips, and the liability for duty, interest, and statutory consequences is unavoidable. The factual findings by authorities were upheld as no perversity was found. Penalties on importers were restored to 50% in line with traders/brokers. The Settlement Commission's orders for co-noticees who approached it cannot be ext.........